What were the Buyer’s objections?
Once your home goes on the market, Buyers and Agents match their home search criteria to your homes’ features. If they’re similar, they book a showing. If they didn’t make an offer, they had an objection that stopped them. The mot common Buyer objections to making an offer are…
- Needed too many improvements
- Floor Plan
- Room Sizes
How many first and second showings did you have?
If you had low buyer activity examine the showing activity in your area and price range to see if it’s consistent with yours. Buyer activity is the strongest during the first 30 days your home is on the market. After that, showing activity decreases and people start wondering what’s wrong with your home.
If you didn’t have an offer in the first 30 days it may be a good time to consider a price adjustment. If Buyers were interested enough to take a second look and didn’t make an offer, what has their objection?
Did you have any written offers?
If you had one or more written offers, what were they for? What was your home listed for when the offer was written? If you took a price reduction and then received an offer, what were the number of days from the price adjustment to the offer? And, why didn’t the offer come together?
What are you willing to do to remove the objections?
Adjusting your price may not be the best thing to do to secure the best offer. If the Buyers main objection was, your home need too many improvements. What they’re really saying is, they don’t have the desire to do the work, because they’ve done it before and don’t want to do it again. Or, they don’t have enough money. As Buyers consider making an offer, they make a list of the work needed and total the costs. If the cost of buying a move-in ready home is equal to or less than, the cost of buying yours they’ll buy your competitors home.
If your home has a list of objections consider removing some of them if you can’t remove them all. Consult A Real Estate Expert regarding which ones will have the highest rate of return,
Let’s get it sold this time!
The greatest Buyer interest in your home will be the first 30 days it’s on the market. Remove as many objects as possible. If you can’t, consider a price adjustment to compensate for any objections. Leverage your homes market time to your advantage and get it sold in 30 days. You’ll get the highest offer and the most money!